Calls Rise For Blocksize Increase as Ethereum Fees Near 10 Cent

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Summary

Etherans are calling on miners to increase ethereum’s version of the blocksize, the gas limit, amid congestion on the network following increased demand. They are voting down the gas limit, together with Nanopool, so preventing the 50% of miners’ vote to increase it. Unlike bitcoin’s 1MB which requires the entire network to upgrade, in eth miners can just increase it if 51% of them agree to do so. In addition token transfers are more expensive than simple transfers, with Tether apparently taking up half of the available gas. Eth miner stats, Sep 2019The somewhat decent rate of daily fees at about $150,000 may be one reason why some miners would rather increase them further than lower them.

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Etherans are calling on miners to increase ethereum’s version of the blocksize, the gas limit, amid congestion on the network following increased demand.

Fees have risen to $0.075 for a simple transaction that takes less than two minutes, according to EthGasStation, and as high as $0.58.

Smart contract based transactions, like opening or closing a position on MakerDAO’s Dai, can cost more.

In addition token transfers are more expensive than simple transfers, with Tether apparently taking up half of the available gas.

Top gas users, Sep 2019

The very first one leads to Tether’s address , with it unclear why this is suddenly taking up so much space, but eth based USDT have risen from $1.2 billion in July to now $1.6 billion.

In addition Binance moved to accept only eth based USDT. So if one...

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